I've just been through all the option structure and it would appear that everything has been placed as following:
Hugh Morgan (Ex WMC) 2,000,000
Peter Cole (mine manager) 1,500,000
Professor Peter Scales (Elazac designer) 1,000,000
Triston Cole (Asst Mine Manager) 500,000
Jim Wallace ( Company Sec) 100,000
A. Edwards (accountant) 50,000
Michele Levine (Director) 2,000,000
Total 7,150,000 paid up at .10c
I have followed this stock for a number of years and even though I only have a nominal position (never really believed they could unlock the gold issue)The above smells like they have a lot of confidence they have.
They look all in to me as I doubt very much they could unload 7,150,000 shares without cratering the stock well below their .10c issue price.
With 10tonnes a day of concentrate at 1000g/t precious metals projected when in full producton its an interesting situation should it develop.
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